Is it possible to make HBD track Euros rather than USD? From the technical side, it seems like a simple thing where witnesses have to decide to make the change and update.
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The challenge there at this point is that Distriator is setup to run on Hive-Backed DOLLARS, and as long as the USD is still the most important world reserve currency, adoption depends on equivalence. I personally would not be opposed to a Hive-Backed Euro being added, though.
Distriator is a rebate program for businesses and their patrons who use HBD for purchases -- businesses that accept HBD can thus offer 20-25 rebate through Distriator, making HBD an attractive option especially in countries in which the currency is hyper-inflated. For businesses, they get the equivalent of $1, which they can take to Bitcoin or their local currency or $1, depending on their needs. For customers, HBD gives them an equivalent to the spending power of having $1, and the equivalent of 20-25 cents of that coming back. About 300 businesses accept HBD now, and a lot of the recent growth is due to Distriator. This works because the power of USD is still unmatched in the world, with Bitcoin second. Hive has positioned itself as THIRD, but it doesn't work without the links to the first two.
Distriator is not core to the Hive and should not dictate what Hive should or shouldn't do. If Hive witnesses changes to Hive-Backed Euros it is up to distriator to change their operations.
Adoption is key to the survival of Hive, which is why the witnesses who back Distriator do so. Do not think for a moment that something like Distriator just exists to be existing, and that the people who run Hive do not understand that USD and Bitcoin will not be displaced this soon. The euro is not yet ready to pick up the ball that the Eurodollar system's collapse would create. Neither is Bitcoin. Certainly not Hive -- not yet. Now, if Hive ITSELF traded equivalently to a dollar or a euro or more sustainably, it becomes a different calculation, like it is for Bitcoin -- but we are not there yet.
Hive doesn't shape up around Distriator, Distriator shapes up around Hive. It is Distraitor that needs to change its operations not Hive. How many witnesses back Distriator? How many of them are in top 20?
Go find out, since that is the fight you want. Just make sure you're ready. Understand the height of the mountain you are going to have to overcome. There are 300 businesses and thus thousands upon thousands of people attached around the world to it, along with initiatives to re-position Hive as incentivized onramp and offramp to Bitcoin and other major cryptocurrencies. A couple of names you should also know: Keychain, V4V, and VSC. Go find out who is attached to all that. Also, go look at LEO 2.0, a major project here that is about to drop content rewarding altogether on Hive and get into the business of moving money around. Hive is changing to fit its adoption needs, all around you. Go find out what you want to change, and what it will actually take to do that. People climb Mt. Everest every year. It can be done. Just be sure you're ready.
All these yapping but nothing of substance. What a waste of time.
A couple of names you should also know: Keychain, V4V, and VSC
Attaching independent projects to another how quaint.
If you do not want to find out the answers to your own questions, then you have spoken for your own conversation being a waste of time. Hive is not that big. A lot of people back the same things. I already know that. But if you don't, and can't be bothered to find out, oh well. It's easy to talk big about what you want. Hard to go do the work. I am not the defender of HBD, but I've told you where to find some of them. There are some others making a cool $12K a MONTH on HBD interest with things just the way they are -- you'll find them as you go fight the fight you want. Personally, I'm good on an HBD or an HBE, or both: it's all Bitcoin to me because that's how I move. But there are far bigger things working than just me in the world. Go find out what it would take to get what you want, with that in mind.
If you do not want to find out the answers to your own questions
If you claim something onus is on you to answer questions regarding your claims.
I already know that
If you can't answer me it just proves that you know nothing. Just like your claim on how it would be hard for Distriator which you do not know. You are just speculating about things you do not know.
Come back when you actually know things rather than regurgitating bullet points from posts you've seen.
Tschüss, muah.
It could be ... but consider this: is any other currency going to be able to smoothly fill that gap in four years? The Eurodollar system has been with us 200 years -- can the Euro handle the load alone? What other currency swings into place? I'm not arguing for the "goodness" of USD. I do know the lives of many even outside the U.S. depend on it not suddenly disappearing.
It is not easy, but if the dollar is devalued more and more, many countries and bussiness will look for alternatives.
The USA got wealthy through the dollar.
There have been many powerful empires in history, all of which eventually fell.
No doubt -- all empires fall. But this is perhaps the largest case of "Be careful what you wish for" that can be imagined in a mere three years. Who is planning to be the alternative, and has the infrastructure? If there is no ready answer, the chaos and human toll will be unthinkable. There are many countries that are almost as reliant on the dollar as the U.S. itself -- who will be ready in a mere three years to pick up the ball? This is why I have said in this thread: I'm not opposed to adding alternatives to HBD -- a Hive-Backed Euro and in all seriousness a Hive-Backed Yuan or Yen would not be bad ideas. But the people adopting Hive who do so intending to live today, tomorrow, and probably into the near future need HBD. It doesn't matter how frustrated we are with a particular U.S. president who is already 79 years old; there are far bigger concerns, long-term, than him.
Why a HF? From what I can see, witnesses just start sending price in euros.
If they just started sending prices in euros all currently existing HBD will converted to be Euros 1 to 1. If you had 100 HBD worth 100 USD now you would have 100 HBD worth 100 Euros. Updating already existing balances would require a HF.
I was thinking it just stays as is. Everyone gets a bit richer. My understanding is that HBD has to get paid back by hive in the future and "Hive" covers that cost.
Yes, HDB is debt but that debt have been issued as dollars not euros. So witnesses just sending euro value in price feed would make debt go up.
Let's say witnesses send 0.1779 as price feed (1 hive's worth in euro) Then my 1 HBD will give me 5.62 HIVE. If it were in USD price it would have given me 4.77 HIVE. So if the balances are not updated with current prices, chain will owe an extra 0.85 HIVE per HBD in circulation.